You Should Know How Over-the-Counter Drugs Market Is Growing Rapidly in this Industry at Global Sector
The “Over-the-Counter Drugs Market” Research Report 2021-2027 is a specialized and in-depth study of the Over-the-Counter Drugs industry with a focus on the global market trend. The report aims to provide an overview of Over-the-Counter Drugs Market with detailed market segmentation by component, deployment model, end-user and geography. The Over-the-Counter Drugs Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Over-the-Counter Drugs Market players and offers key trends and opportunities in the market.
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Over-the-Counter Drugs are medications sold directly to the consumer without a need for a physician’s prescription, rather than prescription drugs, which can only be provided to medical users possessing a valid prescription from a health care provider. They are generally accessible to anyone over the age of eighteen and can generally be purchased over-the-counter. Common over-the-counter drugs include aspirin, acetaminophen, ibuprofen, naproxen, and indomethacin. One of the key reasons behind the massive penetration of OTC drugs is product innovation. Pharmaceutical companies are focused on continuous research and development activities, in order to launch novel products. Recently, in January 2021, Hamdard Laboratories launched 12 OTC medicines that will help boost immunity. Similarly, in April 2021, Bal Pharmaca launched its first OTC product Eye Spa. Thus, factors can potentially augment growth of the over-the-counter drugs market.
Another key factor governing the development of the market is a favorable regulatory framework. Regulatory agencies in many countries have increasingly approved over-the-counter drugs for common headaches, colds, stomach aches, and many more. Such factors can stimulate growth of the over-the-counter drugs market in the near future. Recently, in February 2020, GlaxoSmithKline plc received the U.S. Food and Drug Administration (FDA) approval for three over-the-counter (OTC) drugs indicated for arthritis pain, red eyes, and itchy eyes.
Aspirin is available in different strength and concentration levels, depending on the amount of pain you wish to relieve. Common lower strength versions of aspirin include the generic form of aspirin and the trade name Ultram for pregnant women. Aspirin is available in different strength and concentration levels to treat various diseases, including headache, heart disease, and ulcers. When it comes to regional impact, North America seems to be gaining significant traction in the over-the-counter drugs market since there is a leading trend among pharmaceutical companies to switch from Rx to OTC drugs. On the contrary, Asia Pacific is exhibiting promising signs with rising awareness among people regarding OTC medicines.
There are many other types of over-the-counter medications available throughout the U.S. Many people prefer to purchase these types of medications over-the-counter, because they do not require a prescription, and they are more affordable than prescription medicines. Some of these over-the-counter treatments can be used as preventative care for some conditions such as diabetes. However, there are certain factors that could leave a negative impact on the development of the market. For instance, there has been reported incidence of substance abuse, which remains one of the major hurdles. Besides, lack of awareness in rural areas could potentially impede growth of the over-the-counter drugs market.
Major Key Players Include In Over-the-Counter Drugs Market: Pfizer, Inc., Novartis AG, GlaxoSmithKline Plc, Bayer AG, Sanofi, Glenmark Pharmaceuticals, Merck KGaA, Teva Pharmaceuticals, Johnson & Johnson Services, Inc., Boehringer Ingelheim
Main points in Over-the-Counter Drugs Market Report Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Over-the-Counter Drugs Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Over-the-Counter Drugs Industry Impact
Chapter 2 Global Over-the-Counter Drugs Competition by Types, Applications, and Top Regions and Countries
2.1 Global Over-the-Counter Drugs (Volume and Value) by Type
2.3 Global Over-the-Counter Drugs (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Over-the-Counter Drugs Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Over-the-Counter Drugs Market Analysis
Chapter 6 East Asia Over-the-Counter Drugs Market Analysis
Chapter 7 Europe Over-the-Counter Drugs Market Analysis
Chapter 8 South Asia Over-the-Counter Drugs Market Analysis
Chapter 9 Southeast Asia Over-the-Counter Drugs Market Analysis
Chapter 10 Middle East Over-the-Counter Drugs Market Analysis
Chapter 11 Africa Over-the-Counter Drugs Market Analysis
Chapter 12 Oceania Over-the-Counter Drugs Market Analysis
Chapter 13 South America Over-the-Counter Drugs Market Analysis
Chapter 14 Company Profiles and Key Figures in Over-the-Counter Drugs Business
Chapter 15 Global Over-the-Counter Drugs Market Forecast (2021-2027)
Chapter 16 Conclusions
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Major Point Answered in Over-the-Counter Drugs Market Research Study are:
- What will be the progress rate of the Over-the-Counter Drugs Market for the conjecture period, 2021-2027?
- What are the prominent factors driving the Over-the-Counter Drugs Market across different regions?
- Who are the major vendors dominating the Over-the-Counter Drugs industry and what are their winning strategies?
- What will be the market scope for the estimated period?
- What are the major trends shaping the expansion of the industry in the coming years?
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